Guardian Bank

Guardian Bank
Private
Industry Financial Services
Founded 1992 (1992)
Headquarters Nairobi, Kenya
Key people
 Maganlal M. Chandaria
Chairman
Vasant Shetty
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue IncreaseAftertax:US$1.256 million (KES:131.9 million) (H1:2014)
Total assets US$163.33 million (KES:14.195 billion) (H1:2014)
Website guardian-bank.com

Guardian Bank, whose full name is Guardian Bank Limited, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by Central Bank of Kenya, the central bank and national banking regulator.[1]

Overview

As of June 2014, the bank was a medium-sized retail bank, with an asset base totaling approximately US$163.3 million (KES:14.195 billion), and shareholders' equity of about US$18.8 million (KES:1.626 billion).[2] At that time, Guardian Bank was ranked number 31, by assets, among 43 licensed financial institutions in its class.[3][4]

History

Guardian Bank was established in 1992 as Euro Finance Limited, a non-bank financial institution. As a result of the changes in the banking laws of Kenya, Euro Finance Limited converted into a commercial bank in 1996 and rebranded to Guardian Bank Limited. In December 1999, the bank merged with Guilders International Bank Limited, keeping its current name, after the merger.[5][6]

Ownership

The stock of Guardian Bank is privately held. The detailed shareholding in the bank is not widely publicly known. The bank operates as a subsidiary of Chandaria Industries Limited, a business conglomerate that is also in involved in manufacture of paper, paper products, toilet tissue, facial tissues and other paper derivatives.[7]

Branch network

As of August 2014, Guardian Bank Limited maintains branches at the following locations:[8]

  1. Administrative Office - 1st & 2nd Floors, Guardian Centre, Biashara Street, Nairobi
  2. Eldoret Branch - Biharilal House, Uganda Road, Eldoret
  3. Biashara Street Branch - Guardian Centre, Biashara Street, Nairobi
  4. Kisumu Branch - Ground Floor, Amalo Plaza, Oginga Odinga Road, Kisumu
  5. Westlands Branch - Brick Court House, Mpaka Road, Westlands, Nairobi
  6. Mombasa Branch - Oriental Building, Nkrumah Road, Mombasa
  7. Mombasa Road Branch - Ground Floor, Tulip House, Nairobi
  8. Nyali Branch - Ground Floor, Links Plaza, Nyali
  9. Ngong Road Branch - Ground Floor, The Greenhouse, Ngong Road, Nairobi.

Governance

The Chairman of the nine-person Board of Directors is Maganlal M. Chandaria, one of the non-Executive Directors. Vasant Shetty serves as the Managing Director.[9]

See also

References

  1. ↑ "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 8 August 2014.
  2. ↑ "Unaudited 30 June 2014 Financial Statements And Disclosures" (PDF). Guardian Bank Limited (GBL). Retrieved 8 August 2014.
  3. ↑ "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. 28 April 2014. Retrieved 8 August 2014.
  4. ↑ Duncan Miriri; Sharon Lindores (15 February 2010). "Factbox: Key Facts On Kenya's Banking Sector". Thomson Reuters. Retrieved 8 August 2014.
  5. ↑ "History of Guardian Bank Limited". Guardian Bank Limited (GBL). Retrieved 8 August 2014.
  6. ↑ "Mergers And Acquisitions Among Kenyan Commercial Banks From 1989 To 2010". Central Bank of Kenya (CBK). Retrieved 8 August 2014.
  7. ↑ "About Chandaria Industries Limited: Company Profile". Chandaria Industries Limited (CIL). 2012. Retrieved 8 August 2014.
  8. ↑ "The Branch Network of Guardian Bank Limited". Guardian Bank Limited (GBL). Retrieved 8 August 2014.
  9. ↑ "The Board of Directors At Guardian Bank Limited". Guardian Bank Limited. Retrieved 8 August 2014.
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